Bank of America offers free checking, but the account you get depends on how you bank

Bank of America has several checking accounts with no monthly fee, but "free" comes with conditions. The eChecking account is genuinely free—no minimum balance, no direct deposit requirement, no strings. The Advantage SafePass Checking account is also free if you meet one of these: keep $1,500 in the account, set up direct deposit, or use their debit card 10 times a month. The Advantage Plus Checking account costs $12 a month unless you maintain a $1,500 balance or get direct deposit.

The catch is that eChecking has limits. You get one free withdrawal per month at a Bank of America ATM; after that, each withdrawal costs $3. If you use ATMs frequently or need to visit a branch often, the fee-free accounts with balance or direct deposit requirements may actually cost you less in the long run than paying per transaction.

Key Takeaways

  • eChecking is free with no balance requirement, but you pay $3 for each ATM withdrawal after your first one per month.
  • Advantage SafePass Checking is free if you maintain $1,500, set up direct deposit, or use your debit card 10 times monthly.
  • Advantage Plus Checking costs $12 monthly unless you meet the same balance or direct deposit conditions as SafePass.
  • Bank of America waives monthly fees for customers age 62 and older on most checking accounts.

eChecking: No balance, but ATM fees apply

eChecking has no monthly maintenance fee and no minimum balance. You can open it with $25. There are no requirements to keep it open—no direct deposit, no debit card usage, nothing.

The trade-off is ATM access. You get one free withdrawal per month at any Bank of America ATM. Every withdrawal after that costs $3. If you use ATMs outside the Bank of America network, those fees depend on the other bank, but Bank of America does not charge you on top of that. If you rarely need cash or have another bank account with better ATM access, eChecking works. If you withdraw cash weekly, the fees add up fast.

Advantage SafePass Checking: Free if you meet one condition

Advantage SafePass Checking has no monthly fee if you do at least one of the following: keep a $1,500 minimum balance, set up direct deposit of any amount, or use your debit card 10 times per month. If you do none of these, the account costs $12 per month.

This account includes unlimited ATM withdrawals at Bank of America locations and unlimited debit card transactions. You also get overdraft protection options and access to their full branch network. For someone who gets a paycheck via direct deposit or maintains a modest savings buffer, this is usually the better choice than eChecking because you avoid per-transaction ATM fees.

Advantage Plus Checking: The paid option with more features

Advantage Plus Checking costs $12 per month, but the fee is waived if you maintain a $1,500 balance, set up direct deposit, or use your debit card 10 times monthly—the same conditions as SafePass. The difference is that Plus includes additional perks: higher overdraft limits, priority customer service, and discounts on other Bank of America products.

For most people, SafePass and Plus are functionally identical when fees are waived. The Plus account makes sense only if you want those extra features and are willing to pay $12 monthly when you cannot meet the waiver conditions.

How to avoid monthly fees

The easiest path is direct deposit. If your employer or a government program (Social Security, unemployment, tax refund) deposits money into your account, you automatically waive the monthly fee on SafePass or Plus. You do not need to keep a balance or use your debit card.

If direct deposit is not an option, keeping $1,500 in the account works for SafePass. That $1,500 does not have to be separate from money you spend—it just has to be there on the day the fee would post, usually the first of the month. Using your debit card 10 times per month is the third path, though it requires discipline and spending patterns that may not match your life.

If none of these work for you, eChecking is free, but budget for ATM fees if you withdraw cash regularly. One withdrawal per month is free; after that, each one costs $3.

Age 62 and older: Fee waivers apply automatically

Bank of America waives monthly maintenance fees on most checking accounts for customers age 62 and older, regardless of balance or direct deposit. This applies to SafePass, Plus, and several other accounts. You do not need to request it—the bank applies the waiver automatically once you turn 62 or when you open an account and provide your birthdate.

eChecking remains subject to ATM fees even with the age waiver, so the same $3-per-withdrawal rule applies.

Comparing Bank of America checking to other banks

Bank of America's free checking options are competitive but not unique. Many online banks and credit unions offer checking with no monthly fee, no minimum balance, and no ATM restrictions. However, Bank of America has physical branches in most U.S. states, which matters if you deposit cash frequently or need in-person service.

If you value branch access and do not mind meeting a balance or direct deposit requirement, SafePass is a solid choice. If you want to avoid any conditions, eChecking is free but comes with ATM costs. If you bank primarily online and rarely visit a branch, a credit union or online bank may offer better terms.

Frequently Asked Questions

Can I switch from one Bank of America checking account to another?

Yes. You can open a new account and transfer money between them, or contact Bank of America to convert your existing account. There is no fee to switch. Your account number and routing number will change if you open a new account, so update any automatic payments or direct deposits.

Do I have to pay the $3 ATM fee if I use a Bank of America ATM outside my state?

No. The $3 fee applies only to eChecking accounts and only after your first free withdrawal per month. It does not matter which Bank of America ATM you use or where it is located. All Bank of America ATMs are treated the same.

What happens if I do not meet the conditions to waive the monthly fee?

The monthly fee posts to your account on the first of the month. If your balance is low, the fee can trigger an overdraft. You can avoid this by setting up direct deposit, maintaining the minimum balance, or switching to eChecking before the fee date.

Is there a student checking account with no fees?

Bank of America does not have a dedicated student account, but students can open eChecking or SafePass Checking. eChecking is free with no requirements. SafePass is free if you meet one of the three conditions, which many students do through part-time work direct deposit.

Can I open a Bank of America checking account online?

Yes. You can open eChecking, SafePass, or Plus online through their website or mobile app. You will need a government ID, Social Security number, and an initial deposit. The account is usually active within one business day.